Elements Global Services Announces $20 Million Minority Growth Equity Investment From Guidepost to Further Revolutionize the Global HR Industry
Elements Global Services to Use First Capital Raise to Accelerate Exponential Growth & Expand Suite of HR Product Offerings
WASHINGTON, Aug. 14, 2020 /PRNewswire-PRWeb/ -- Elements Global Services, the leading Employer of Record and Business Intelligence services provider, announced that it has closed a $20 million minority investment from Guidepost Growth Equity, a leading growth equity firm focused on high-growth technology companies.
This represents Elements' first institutional capital raise, and with this investment, the Company plans to further accelerate growth by adding additional talent to its global workforce and expanding its suite of HR product offerings.
Founded in 2015, Elements is led by Chief Executive Officer and Founder, Rick Hammell. The Company's mission is to simplify global expansion by enabling clients to rapidly and compliantly manage the full lifecycle of their international employees in over 135 countries. Elements has grown exponentially over the past few years, driven by the success of its direct Employer of Record model. The Company also plans to launch several new product offerings this year.
"I am delighted to have Guidepost join us on this journey," said Rick Hammell. "This investment enables us to fulfill our potential, deliver game-changing products to the marketplace and reinvest in the global economy by adding as many as 100 new jobs as we expand our global footprint. Today, HR is more global and the industry is in desperate need of agile solutions. We are at the forefront of simplifying global expansion and HR compliance for all businesses, everywhere. We are going to change HR for the best."
"Elements is transforming the way in which companies are looking to expand internationally," said Won Park, Principal of Guidepost Growth Equity. "With Elements' direct Employer of Record business model coupled with their technology solutions, Elements is well-positioned to continue being a highly differentiated, innovative leader in this market."
Elements also represents Guidepost's first investment from its Fund III. Won Park will join Elements' Board of Directors following the close of the investment.
"Elements exemplifies Guidepost's long history of working with bootstrapped, fast-growing and unique business models in highly dynamic markets. We look forward to supporting Elements as it pursues a number of exciting growth initiatives," said Doug Kingsley, General Partner of Guidepost.
"Securing this investment underscores the strength of our organization, people and our collective dedication to simplifying global expansion for all. We are thrilled to have the confidence of one of the leading growth equity firms," said Rick Hammell.
About Elements Global Services
Elements Global Services is an award-winning Employer of Record & Tech enabled services company. Elements provides 100% direct Employer of Record services in over 135 countries – covering everything from payroll, benefits, HR, local compliance to visa & mobility. Elements has a global network of offices and employees delivering innovative solutions to its growing customer base.
Elements' Direct Employer of Record model helps companies expand, onboard, manage & pay employees worldwide. Visit http://www.elementsgs.com or connect on LinkedIn and Twitter.
About Guidepost Growth Equity
Guidepost Growth Equity is a leading growth equity firm that partners with innovative technology companies. Guidepost provides the flexible capital, operational support, and strategic guidance necessary to support the continued success of growth-stage businesses. Representative investments include OutSystems, WP Engine, Seniorlink, Dyn, and ProtoLabs. For more information, visit guidepostgrowth.com.
SOURCE Elements Global Services
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